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$BTC
update
Bounce from 110k-112k or
Otherwise, Means If this level fail, we are going to 100k zone
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CryptoDailyMaker
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$BTC UPDATE Some of you have been asking the reason why we are waiting for the limits on bitcoin to hit around $111.9K instead of just going taking the position right away, so let me explain why. First of all, price right now is sitting in the middle of nowhere, support is $112K - $110K zone, resistance is $115.5K - $116.5K zone, so there is no point trying to catch the move here. Also, if you would apply 4H YVWAP, it took price 4-5 months to break below that level, even the last bounce from $114.6K to $116.9K 2 days ago was precisely at 4H YVWAP and this rejection at $114.8K last night was at the same dynamic line which was acting as support and now been flipped into a resistance, so it will take some time for price to reclaim this level. Finally, the reason why we have limits placed at $111.9K even though this will be 3rd retest of support is because of 1D QVWAP, an absolute strong support, apply on your charts and see it for yourself. This is going to be the first retest of this dynamic line after quite a long period, so very likely for price to bounce at this level. I am still waiting patiently for price to retest this level and would not recommend entering at any of the current levels.
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$ETH UPDATE Was waiting for this rejection on $ETH to confirm the formation of this descending trendline which got confirmed yesterday with this third rejection. The entry for $ETH long is still long active, will take first TP around $4500, there will soon be a breakout above this trendline.
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$BTC update The plan ia still the same 1st one
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BREAKING: #FOMCMinutes OUT 💥 🇺🇸 KEY TAKEAWAYS 👇 🔴 TARIFF EFFECTS MAY TAKE LONGER TO MATERIALIZE 🔴 GROWING CONCERNS OVER STRETCHED ASSET VALUATIONS 🔴 MAJORITY VIEW INFLATION AS BIGGER RISK THAN EMPLOYMENT 🔴 FULL IMPACT OF TARIFFS MAY TAKE MORE TIME TO UNFOLD
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$BTC UPDATE One of the very important charts to keep an eye on in short term is $USDT dominance. In my recent updates, I constantly warned about a massive daily trendline, the breakout above which did happen during the last 24 hours or so. Although the breakout was stalled mainly because of 1D QVWAP which has given rejection to this index at multiple instances (June 30, July 8th, August 02 and today August 20th) and at each one of these instances, these rejections resulted in bitcoin making new higher highs but we know already that more and more price rejection happens at a certain, the weaker that level gets and so it’s only a matter of time this reclaim happens which imo is going to be the case this time. Also $USDT.D has now reclaimed the 4H YVWAP and is trading around 4.4% support which is possibly going to give a decent bounce if it doesn’t turn into a deviation in next few hours. If you guys remember the last time we missed the $112K long because $USDT.D did not give a precise retest at 4.62% level, guess it’s gonna happen this time, don’t know where exactly bitcoin would be at that time but most likely in $108K - $112K range.
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